Why is BONK Coin rising?
Data from BeInCrypto showed that BONK started its rally after hitting a 2-month low on June 22. Despite brief drops, the upward trend gained momentum earlier this month, and the Solana-based token experienced consecutive increases, raising its value by 52.4% in the last week.
Additionally, BONK's performance outpaced that of the broader crypto market during the same period. The recent application by Tuttle Capital Management to launch a 2x leveraged BONK ETF was a key catalyst behind this increase.
The post-effective amendment designates July 16 as the earliest possible launch date, pending regulatory approval:
